WEF: Global Risks Report, 2020
On January 15, 2020, the World Economic Forum released its Global Risks Report. Under the report, the Forum has identified the global risks.
The top 5 Global risks according to the report are as follows
- The Forum reported that Climate-related risks had the greatest likelihood of severe impacts.
- The other threats include geopolitical turbulence. The retreat from multilateralism has threatened the ability of the world to deal the global risks.
- The current economic stagflation according to the report will increase. This might even lead to increased social issues, protests, increased populists movements.
- Though the Digital Technology is in its peak of evolution, the unequal access of the technology across the globe will increase.
- The social demographic, environmental and technological pressure on health systems is growing.
Top Highlights of the Report
The Report has listed 5 top risks in the terms of Likelihood and in terms of Impact. The global risks in terms of likelihood includes extreme weather, climate action failure, natural disasters, biodiversity losses and human-made environmental disasters. For the first time in the history of the report, all the five risks of likelihood is climate-related.
The Global Risks in terms of impacts include climate action failure, weapons of mass destruction, biodiversity losses, extreme weather and water crisis.